Yet businesses and shareholders are far from representative of those most at risk.
The best evidence we’ve got suggests the hardest hit are Victoria’s already disadvantaged.
Those arguing for extended lockdowns make the point that they are not as costly as they might seem (to anyone) because their effects need to be compared not with business as usual, but with business in which a pandemic encourages people to stay at home and reduce spending.
Lockdowns hurt some more than others
But these are overall measurements. Lockdowns hurt some much more than others.
Mobility data shows it
This isn’t obvious from mobility data, which seems to show the opposite.
- ^ gut-wrenching (www.afr.com)
- ^ devastating (www.afr.com)
- ^ trainwreck (www.afr.com)
- ^ death knell (www.afr.com)
- ^ during the March quarter (theconversation.com)
- ^ March 24 (www.theguardian.com)
- ^ well ahead (theconversation.com)
- ^ modest effect (www.nber.org)
- ^ 10% (www.nber.org)
- ^ twice as likely (voxeu.org)
- ^ seven times as likely (onlinelibrary.wiley.com)
- ^ three times as likely (theconversation.com)
- ^ restricted their travel the least (www.theage.com.au)
- ^ Source: The Age, Nicolas Rebuli (www.theage.com.au)
- ^ voluntary reductions (elibrary.worldbank.org)
- ^ condemning them to deprivation (voxeu.org)
- ^ old as the plague itself (www.amazon.com)
- ^ Why coronavirus will deepen the inequality of our suburbs (theconversation.com)
- ^ the poore’s plague (www.connotations.de)
- ^ provide ready quotes (www.afr.com)
Authors: Peter Robertson, Professor, University of Western Australia